Agreement Between The Government Of Japan And The Government Of Malaysia For An Economic Partnership
The ASEAN-Japan Comprehensive Economic Partnership (AJCEP) agreement is a comprehensive agreement comprising trade in goods and services, trade in investment, rules of origin (ROO), sanitary and phytosanitary legislation (SPS), technical barriers to trade (TBT), dispute settlement mechanism (DSM) and economic cooperation. The FRAMEWORK for a Comprehensive Economic Partnership (CEP) between ASEAN and Japan was signed by the Heads of State and Government of ASEAN and Japan on 8 October 2003 in Bali at the ASEAN-Japan Summit. Under the framework agreement, all parties committed to establish an ASEAN-Japan ECP to strengthen economic relations, create a larger and more efficient market with greater opportunities and economies of scale, and increase the attractiveness of capital and talent for both sides. In the context of merchandise trade, Malaysia has so far eliminated tariffs on 93.57% of products in the normal track. The modality of goods on the Highly Sensitive Goods List, the Sensitive Goods List and the Exclusion List varies and tariff reductions have been negotiated bilaterally between ASEAN Member States and Japan, taking into account the sensitivities of the parties. Japan`s strong commitment to supporting the building of the ASEAN Community is manifested in its initiatives and the support of many concrete and mutually beneficial activities. The strength of ASEAN`s economic growth has also contributed to the strengthening of relations with Japan. In order to benefit from preferential tariff regimes under the AJCEP, it is necessary to comply with the rules of origin laid down in the Agreement and to use the Certificate of Origin under the AJCEP. .